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Money Matters
Currency
The official currency of Thailand is the Baht. One Thai baht is divided into 100 satang. Baht notes come in denominations of 20 (green), 50 (blue), 100 (red), 500 (purple) and 1000 (brown). All notes feature pictures of the current king, His Majesty King Bhumibol Adulyadej. Coins in circulation include 10 Baht, 5 Baht, 2 Baht and 1 Baht. The two Baht and 1 Baht coins look very similar, although the 2 Baht coins are slightly bigger and have a picture of The Golden Mount on the back. Satang coins are much smaller and bronze colored. There are 100 satang in one Baht and these coins are available in 25-satang and 50-satang pieces.

Use of money
In Thailand all the prices are quoted in Thai Baht and vendors theoretically do not take foreign currencies. Anyway, there are exception in some places but they will be convert the cost of whatever you purchase at a rate of exchange which is favorable for them than the prevailing bank rate. So it is better to change the money before you want to use services or buy anything.
Credit cards are becoming increasingly acceptable in shops, hotels and restaurants, with Visa being the most useful, followed by MasterCard.

Exchange Money
There are foreign exchange booths all over the major tourist areas in Thailand, at all of which you will receive a fair rate of exchange. Most hotels will also change US$ to Baht, but the rate might not be so favorable to you.
Traveler’s checks are changed in banks, which will often require your passport. Rates of exchange at banks or authorized money changers are better than those at hotels and department stores.
When buying Baht, US dollars are the most eagerly accepted currency and it is a good idea to have a supply of travellers' cheques as they receive a better rate than cash. British pounds are the next-best alternative.
There is not limited amount of foreign currency you can bring into the country and you can also take foreign currency out of Thailand, but no more than the amount stated in the customs declaration made on arrival. Travelers leaving Thailand may take out no more than 50,000 Thai baht per person in Thai currency.

ATM & Credit Cards
Credit cards are widely accepted, though using a credit card may incur a usage fee of 2-3%. Furthermore, while most cards give reasonable exchange rates, many credit card companies charge an additional fee for foreign charges.
ATM cash machines can be found all over Thailand from major cities to relatively small towns, so gaining access to your money should never be a problem, unless you are in a particularly rural area. There are about 5 or 6 major Thai banks that provide ATM facilities including: Bangkok Bank, Siam Commercial bank, Bank of Ayudha and the Farmers Bank. Getting cash from the ATM in Thailand is almost exactly the same as accessing your money in any other country with the exception that the default screen will usually be written in Thai, although there will be a small sign directing you to the English language service.
ATM fees vary depending on a few factors. It is possible that the Thai bank may charge a small fee for using their machine only but take note that you are likely to be charged by your own bank for using the ATM card in another country. It’s worth finding out how you’ll be charged before you travel as if your bank charges a standard fee per withdrawal it makes more sense to take out larger sums of money from the ATM in Thailand.
ATM machines in Thailand also enable you to take money out using your credit card but you should work out the interest rate you have to pay later.

Cost
Thailand is an inexpensive country to visit thanks to advantageous foreign currency exchanges and an affordable standard of living.
If you are willing to dine at small street stands or markets, you can eat a good meal for less than 60 Baht while it cost around 150 Baht in average restaurants. If you want to stay in comfortable hotels and eat at restaurants, you should increase your budget to around 600.00 - 1000.00 Baht a day outside Bangkok and major tourist hot spots such as Phuket, where you can expect to pay around double. A bottle of water cost around 12-15 Baht, beer around 70-100 Baht, souvenir t-shirt: 200-300 Baht, cinema tickets: 120-170 Baht…
For those with deep pockets, there is no end to the luxury that you can find in Bangkok and key tourist destination. Bangkok boasts some excellent dining options, top of the range hotels and shopping opportunities.

Bargaining
Fixed prices are the norm in department stores, but at most other shops bargaining is to be expected. Generally, you can obtain a final figure of between 10-40% lower than the original asking price. Much depends on your skills and the shopkeeper's mood. But remember, Thais appreciate good manners and a sense of humor. With patience and a broad smile, you will not only get a better price, you will also enjoy shopping as an art.

VAT Refund
Visitors entering the kingdom on tourist visas are entitled to a refund of the 7% V.A.T. on goods purchased at registered retail outlets. To qualify for VAT refund a visitor must purchases must total at least 2,000 baht per store per day, with a total value of at least 5,000 baht. You must bring your receipt (and passport and flight information) to the VAT Refund counter at the store you purchased goods from on the day you purchased them. At the airport you must produce these forms as well as the goods to the customs officials at the VAT Refund counter in the departures terminal prior to passing through customs.

Tipping
Tipping is not compulsory in Thailand, but it is enormously appreciated.
If you're happy with the services provided then some tip is appropriate. It's of great significance to the people who take care of you during your travels, inspires excellent service, and is an entrenched feature of the tourism industry. The following amounts are per person suggestions based on local considerations and feedback from our past travelers:
In local restaurants, if you are a single diner, then a tip of around US$1 is appropriated. It is from 10% to 15% of your bill in the more up-market restaurants. If you are in group then depends on the group size, a gather of US$4 or 5 is good.
If a service charge of 10 % is already added in to you bill then you do not have to tip more but some little change will be appreciated.
For drivers, we suggest US$5 if you are single traveler and an amount of US$10-15 from the whole group per day can be used.
For your tour guides or group leaders, tipping is much depending on their services. The amount is entirely a personal preference, however it is US$5-7 per day or US$2-4 per person in group tour is appropriate.
Of course you are free to tip more or less as you see fit, depending on your perception of service quality and the length of your trip. Remember, a tip is not compulsory and should only be given when you receive excellent service.